PART 2Amendments of Financial Services and Markets Act 2000
Official listing
I1I216FCA to exercise functions under Part 6 of FSMA 2000
1
FSMA 2000 is amended as follows.
2
In each of the provisions of Part 6 (official listing etc) mentioned in subsection (3)—
a
for “competent authority” or “competent authority's”, in each place, substitute “
FCA
”
or “FCA's”, and
b
for “the authority” or “the Authority”, in each place, substitute “
the FCA
”
.
3
Those provisions are—
a
sections 73A to 84;
F1b
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
c
sections 87B to 87D;
d
section 87G;
e
sections 87J to 87O (including the italic heading before section 87J);
f
sections 87Q to 88;
g
sections 89A to 97 (including the italic heading before section 89H and the heading to that section);
h
section 101(2);
i
section 103(1).
4
Before section 73A insert an italic heading “Rules”.
5
In section 77(3) (discontinuance and suspension of listing), for “sections 96 and 99” substitute “
section 96 and paragraph 23(6) of Schedule 1ZA
”
.
6
In section 87A (criteria for approval of prospectus)—
a
in subsection (1), for “competent authority” substitute “ “FCA”,
F2b
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
c
in the heading, for “competent authority” substitute “
FCA
”
.
F37
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F38
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F39
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F310
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
11
In section 87P (exercise of powers at request of competent authority of another EEA State)—
a
in subsection (1)(c), for “competent authority”, in the second place, substitute “
FCA
”
, and
b
in subsection (2), for “competent authority” substitute “
FCA
”
.
12
In section 100A (exercise of powers where UK is host member State)—
a
in subsections (1) and (2), for “competent authority” substitute “
FCA
”
,
b
in subsection (3), for “the authority”, in both places, substitute “
the FCA
”
,
c
in subsection (4), for “The authority” substitute “
The FCA
”
, and
d
in subsections (5) and (6), for “the authority” substitute “
the FCA
”
.
13
In Schedule 10 (compensation: exemptions), for “competent authority”, in each place, substitute “
FCA
”
.
14
Omit the following provisions—
a
section 72 (Financial Services Authority to exercise functions of the competent authority under Part 6) and the italic heading before it;
b
section 73 (general duty of the competent authority);
c
section 99 (fees);
d
section 100 (penalties);
e
in section 101 (general provisions), subsections (1) and (3) to (8);
f
section 102 (exemption from liability in damages);
g
in section 103 (interpretation), subsections (2) and (3);
h
in section 195 (exercise of power in support of overseas regulator), subsection (4)(b);
i
in section 410 (international obligations), subsection (4)(b);
j
in section 415 (jurisdiction in civil proceedings), subsection (1)(b);
k
Schedule 7 (modification of Act in its application to the Financial Services Authority when acting as competent authority for purposes of Part 6);
l
Schedule 8 (power to transfer functions under Part 6 to other persons).